"My sense is we will have permits approved by the end of the year," Michael Bromwich, head of Interior's Bureau of Ocean Energy Management told reporters on a conference call.

What’s the trade?

I think the stock that benefits most from the ban lifting is Transocean , says RBC analyst Kurt Hallead. It generates 20-25% of revenues out of the deep water of the Gulf of Mexico.

In the space I like Seadrill and Weatherford, says Tim Seymour.

I’m a buyer of land drillers such as Pioneer Natural Resources, says Brian Kelly.

* Hear more about these developments from Kurt Hallead. Watch the video above!

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